Gabelli Equity Trust (NYSE:GAB) Sets New 1-Year Low – What’s Next?

Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.26 and last traded at $5.2750, with a volume of 2300814 shares changing hands. The stock had previously closed at $5.32.

Gabelli Equity Trust Stock Up 1.3%

The firm’s fifty day moving average is $5.62 and its 200 day moving average is $5.61.

Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Wednesday, September 16th.

Institutional Trading of Gabelli Equity Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Gabelli Equity Trust during the second quarter worth approximately $36,000. Baird Financial Group Inc. acquired a new stake in shares of Gabelli Equity Trust in the second quarter worth $94,000. 1607 Capital Partners LLC bought a new position in Gabelli Equity Trust during the second quarter worth $2,264,000. Old Mission Investment Co LLC bought a new position in Gabelli Equity Trust during the second quarter worth $176,000. Finally, SMART Wealth LLC acquired a new position in Gabelli Equity Trust during the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

About Gabelli Equity Trust

Gabelli Equity Trust Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital, with current income as a secondary objective, by investing primarily in a diversified portfolio of equity securities.

The portfolio may include common stocks and other equity investments in companies across a range of industries and geographic regions, including both the United States and international markets.